TerrAscend To Acquire Lambertville Cannabis Dispensary

LAMBERTVILLE, NJ — TerrAscend Corp., a North American cannabis company based in Canada, has signed an agreement to acquire its fourth dispensary in New Jersey.

Pending regulatory approval, TerrAscend will incorporate Union Chill Cannabis Company, a high-performing, single dispensary operator in Hunterdon County, into its operations, further solidifying the company’s position in the state.

“Union Chill is a strong performer, generating more than $11 million in annualized revenue from its location in Hunterdon County,” said Jason Wild, Executive Chairman of TerrAscend. “We see a clear opportunity to enhance sales and margins by introducing our portfolio of premium brands, including Kind Tree, Legend, Valhalla, Cookies, and Wana. We are actively evaluating additional expansion opportunities in New Jersey and expect to sign multiple additional transactions by the end of 2025.”

He added, “We are also on track with the expansion of cultivation and manufacturing capacity at our Boonton facility, ensuring we can meet the increased demand from both the expansion in our retail footprint as well as our growing wholesale business.”

Established in 2023, Wild said Union Chill is well situated with limited competition within a 10-mile radius. Upon closing of the transaction, Union Chill will increase TerrAscend’s retail footprint to 39 dispensaries across five U.S. states and Canada.

Union Chill opened as the first dispensary in Lambertville in June 2023, the vision of co-founder, CEO and New Hope Borough resident Laurie McHugh and a team of cannabis professionals from the legacy market and medical cannabis industry.

“This has been an incredible journey, and I couldn’t be prouder to open our doors and begin serving our community, family, and friends," said McHugh in 2023. “At Union Chill, we believe in the power of the plant to change peoples’ lives and are passionate about the work we do and the role we play in our community. By combining integrity, social good, and economic success to uplift and inform the decisions we make, we look forward to rising to the challenge of creating a more sustainable, vibrant cannabis environment for all.”

Sadly, McHugh passed away unexpectedly months after opening the new dispensary, never getting to see and enjoy the success of the company.

Union Chill will be the fourth dispensary in New Jersey operated by TerrAscend. The company also operates Apothecarium dispensaries in Phillipsburg on the Pennsylvania border in Warren County in the Northwest, Maplewood in Essex County, and Lodi in Bergen County.